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Tesla's decision to lower the price of its electric vehicles could potentially influence government policies in several ways. Firstly, it could encourage governments to provide more incentives for electric vehicle adoption, as lower prices could lead to increased demand. Secondly, it could prompt governments to invest more in infrastructure for electric vehicles, such as charging stations. Lastly, it could lead to stricter emissions standards, as more affordable electric vehicles could make it easier for governments to enforce such standards.
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When Tesla decided to lower the price of all its North American electric vehicles in May 2020, the market initially saw this as bad news. Traditionally, automakers use discounts as incentives to increase sales during periods of low demand. However, because Tesla is a tech and automotive company, Tesla wanted to reduce costs to increase its product availability. Because price sensitivity is a huge factor to EV adoption, lower prices dramatically increased the amount of cars Tesla sold in the US in the following months.
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How do you take your product management to the next level? Due to popular demand, we've expanded our Product Development Toolkit to include more tools...
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